Medline Industries Aims for Over $5 Billion IPO in 2025 - Reuters

Private equity-owned medical supply company Medline Industries is aiming for an initial public offering (IPO) in the U.S. that could raise over $5 billion. According to reports, the company's IPO, based in Northfield, Illinois, is expected to take place in 2025, likely in the second quarter, with a valuation of approximately $50 billion. However, this estimate is subject to market conditions and may lead to changes in the company's plans.

Medline, owned by leading investment firms Blackstone, Carlyle, and Hellman & Friedman, has reached out to multiple investment banks to take on leading roles in what is anticipated to be one of next year's most significant IPOs. These discussions, currently in a confidential stage, are unfolding in a market environment poised for a new wave of high-profile IPOs following a period of significant stagnation in the IPO market over the past two years.

Medline's move towards an IPO is seen as part of a broader trend, coinciding with companies like CoreWeave, an AI cloud platform operator, and SailPoint, a cybersecurity firm, also advancing their IPO plans for next year.

As one of the leading manufacturers and distributors of medical supplies, including surgical equipment, gloves, and laboratory devices, the company was purchased by its current owners in 2021 for a deal valued at $34 billion. Medline has a significant global footprint, with operations in over 100 countries and a workforce of approximately 43,000 employees. With annual sales exceeding $23 billion, Medline plays a critical role in supplying hospitals around the world.

Medline's roots trace back to 1966 when it was founded by brothers James and Jon Mills. The company went public in 1972 but was later taken private again by the Mills family. Charlie Mills, the long-serving CEO and son of founder James Mills, retired last year, and was succeeded by Jim Boyle, who has extensive experience within the company.

While Medline has not yet responded to requests for comment regarding the IPO, the related private equity firms have also declined to comment. Bloomberg had previously reported in July on Medline's preparations for the IPO.